London
5 °C
Manchester
Glasgow
Dublin
7 °C
Belfast
Washington
Denver
Atlanta
Dallas
15 °C
Houston Texas
New Orleans
El Paso
Phoenix
Los Angeles
4 °C
1 °C
-12 °C
-14 °C
17 °C
23 °C
18 °C
25 °C
China sanctions US firms over Taiwan military support / Photo: MARIO TAMA - GETTY IMAGES NORTH AMERICA/AFP/File
NYSE - LSE
| CMSD | -0.67% | 23.32 | $ | |
| NGG | 0.66% | 59.31 | $ | |
| BCC | -1.91% | 120.63 | $ | |
| GSK | -0.12% | 34.08 | $ | |
| SCS | 0.58% | 11.97 | $ | |
| AZN | -0.39% | 66.26 | $ | |
| BCE | -0.93% | 22.66 | $ | |
| RBGPF | -1.17% | 59.8 | $ | |
| CMSC | -0.85% | 23.46 | $ | |
| JRI | -0.41% | 12.15 | $ | |
| RIO | -0.41% | 59.01 | $ | |
| RELX | -0.61% | 45.58 | $ | |
| RYCEF | 0.14% | 7.26 | $ | |
| VOD | 0.12% | 8.43 | $ | |
| BTI | -0.33% | 36.31 | $ | |
| BP | 0.38% | 28.96 | $ |
China sanctions US firms over Taiwan military support
China on Friday slapped sanctions on seven US companies after Washington's approval last week of a $571.3 million military aid package to Taiwan, which Beijing said infringed on its "sovereignty and territory".
Last Friday, US President Joe Biden authorised the drawdown of up to $571.3 million for defence assistance to the self-ruled island, which China regards as its own territory.
Washington's actions "interfere in China's internal affairs, and undermine China's sovereignty and territorial integrity", the Chinese foreign ministry said as it announced the sanctions.
The statement also hit out at Washington's 2025 defence budget, which includes a security cooperation initiative with Taiwan, as well as calls for strengthened defence industrial cooperation with Taipei.
Beijing will freeze the China assets of US defence companies Insitu, Hudson Technologies, Saronic Technologies, Aerkomm and Oceaneering International, as well as Raytheon's Canada and Australia subsidiaries, the ministry said.
The sanctions, which kick in on Friday, also prohibit the targeted companies from doing business with organisations and individuals inside China.
The United States does not officially recognise Taiwan diplomatically but it is the self-ruled island's strategic ally and largest supplier of weapons.
China, which has said it will use force to bring Taiwan under its control if necessary, has intensified pressure on the island in recent years.
It has staged three rounds of major military drills since Taiwanese President Lai Ching-te came to power in May.
Chinese foreign ministry spokeswoman Mao Ning warned the United States' support for Taiwan "will only burn itself".
"China will continue to take all necessary measures to firmly defend its sovereignty, security and development interests," Mao said at a press conference.
Friday's announcement follows previous sanctions declared earlier this month against 13 US firms for selling arms to Taiwan.
(S.Perez--TAG)
